The IRS Chooses TaxWise For Specialized Accounting
In every industry there are a couple of trendsetters—those companies who do something and everyone takes note. Though most people only grumble about the Internal Revenue Service, it can be assumed that when they select a particular accounting platform, people take note.
Today, the IRS announced they selected TaxWise from CCH Small Firm Services (SFS) as the software their employees and volunteers will use to prepare and electronically file tax returns for millions of low-income, elderly, and limited-English proficient taxpayers. And TaxWise obviously takes pride in this being the 15th consecutive year their technology has been put to this task.
But even though it’s been doing the job for almost two decades, the IRS still vetted accounting software for two years. TaxWise’s most recent agreement is a 5-year contract, and covers about 10,000 IRS-supported Volunteer Income Tax Assistance (VITA) and Tax Counselors for the Elderly (TCE) locations, and IRS-operated Taxpayer Assistance Centers (TACs).
Part of the reason the IRS is so happy with TaxWise is its strong security provisions—and they said this of both the on-premise and online versions. Yup, that’s right—the IRS is not shying away from accounting data in the cloud, and approves of TaxWise Online.
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